Motilal Oswal - MOSL: Morning India (3/May/17)-1. Coal India; 2. Auto Volumes (April)-3. Marico; 4. RBL Bank; 5. Shriram City Union; 6. Bharat Financial; 7. JSW Energy; 8. Motilal Oswal Business Insights Day

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Motilal Oswal

Team Research

MOSL: Morning India (3/May/17)-1. Coal India; 2. Auto Volumes (April)-3. Marico; 4. RBL Bank; 5. Shriram City Union; 6. Bharat Financial; 7. JSW Energy; 8. Motilal Oswal Business Insights Day

â€‹MOrning India (3/May/17): 1. Coal India; 2. Auto Volumes (April); 3. Marico; 4. RBL Bank; 5. Shriram City Union; 6. Bharat Financial; 7. JSW Energy; 8. Motilal Oswal Business Insights Day

Todayâ€™s top research theme

Shriram City Union: Strong operating performance; HFC business faces headwinds
-SCUF reported strong operating performance in the quarter. Operating profit was up 26% YoY (11% of our estimates) driven by strong loan growth, lower cost of funds and controlled opex.
-Disbursements picked up after a muted 3Q and were up 20% YoY to INR62.5b. As a result, AUM grew 18% YoY (2.6% QoQ) to INR231b.
-Total operating expenses declined both, 5% YoY and QoQ to INR2.8b, driven by 9% decline in employee costs.
-Asset quality performed better than expectations. GNPL ratio of 6.73% was ahead of our expectation of 7.47%. The company continues to make prudent provisions on its NPLs, with PCR of 73% at the end of the quarter.

03/05/2017 40 EN

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Motilal Oswal

Motilal Oswal Financial Services Ltd. is a reputed name in Financial Services and Online Trading with group companies providing services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking, Principal Strategies & Home Finance.

Motilal Oswal Securities is a group company of Motilal Oswal Financial Service Limited which started as a stock trading company and has blossomed into well diversified firm offering a range of financial products and services. Motilal Oswal has built a reputation as the source for best stock trading company and this has taken a wealth of experience, knowledge and expertise, constantly working in tandem, over the years.

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Team Research

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MOSL: Morning India (3/May/17)-1. Coal India; 2. Auto Volumes (April)-3. Marico; 4. RBL Bank; 5. Shriram City Union; 6. Bharat Financial; 7. JSW Energy; 8. Motilal Oswal Business Insights Day

MOSL : HOME FIRST FINANCE COMPANY: Earnings in-line with sustained improvement in asset quality

MOSL : SHOPPERS STOP: Ticking the right boxes

MOSL : ERIS LIFESCIENCES: Enhanced efforts toward product launch-related activities

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